Tangerine Money-Back Credit Card Review

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Tangerine Money-Back Credit Card

For example, if you use the card for purchases that fall into one of your bonus categories, such as the American Express SimplyCash card, which offers a flat refund of 12.5%, you will receive more rewards each year if you carry one of these cards. With a 2% cash-back limit and one of the highest rates for return fees, Tangerine’s ability to select your merchant category is a huge advantage, and you can adjust the benefits to your advantage. In addition, Tangerine Money-Back Card has an annual fee if you carry another card. Still, it has no additional cost to use with another card to maximize your rewards.

One of the biggest advantages of the Tangerine Money-Back credit card is that there is no limit to the amount of cash you can earn in each category. By default, you can choose between two categories with the highest-earning rates. If you select “All Your Cash Back Deposits” in your Tangerines account, you can also choose a third category that will give you 2% cashback. Cardholders who want to deposit their rewards into a Tangerine savings account can choose an additional category with a higher cashback rate, allowing up to 3% in each of these categories and up to 2% in total cashback.

The number of 2% cashback categories you choose depends on whether you want to put the money back in repaying your monthly credit card balance (category 2%) or whether you prefer to deposit it directly into your Tangerine savings account (category 3%). Card issuers dictate the winning rate to cardholders. Still, with the Tangerines Money-Back credit card, if you select two spending categories and 10% of those spending categories, you get the cards at a higher cash return rate of 2%. However, if a cardholder spends too much in the Tangerine Discount category, they will only get 2% of the money back.

In addition, there is a time-limited registration bonus that enables you to win 10% in coins on purchases over $1,000 in the first two months. There is also an existing 10% welcome bonus on up to $100 earned in each of the first three months of card membership. Apply for the card before August 16, 2021, and earn an additional 10% (or $100) back if you spend more than $1000 on everyday purchases in the first 2 months. 

Tangerine offers 2% backs in two categories of your choice, plus 0.05% on all other daily purchases. Tangerine deposits your cashback dollars into your credit card balance every month and transfers them to your Tangerines savings account. This promotion is available only to: (i) new TangerINE account holders who apply for a Tangerina Money-Back credit card account by August 16th, 2021; (ii) activate their account within 45 days of release; and (iii) make net purchases totalling $1,000 during their 60-day period, beginning on the date of account activation.

The offer is a 10% (100%) bonus applied to the primary cardholder’s account for 1 / 2 of the withdrawal cycle within the period of 60 days from the date of activation of the Tangerine Money-Back Credit Card, provided the account is open and in good condition at the time of withdrawal. In addition, a referral fee of $1 will be waived by Tangerines if you are resident in the Province of Quebec during the time you accept the offer. The offer may be changed or cancelled at any time without notice.

A new cardholder can transfer balances for 6 months at a low promotional rate of 19.5%, but note that a transfer fee of $1 is charged to earn an additional $10 to $100 if you spend at least $1,000 daily purchases in the first two months. Balance transfers are treated as cash advances on your card and don’t have interest-free periods. However, a flexible program that allows cardholders to choose their cashback categories to increase earnings above an accessible income limit prevents people from paying the annual Tangerine Money-Back Credit Card fee.

If you are a big donor who wants to make money on your spending and save on annual fees and have a low transfer rate, this credit card could be a good choice for you. You also benefit from the purchase of insurance and warranty renewal cards. In addition, the annual fee and income cap make this card attractive.

Consider one of the best travel cards in Canada if you prefer something that allows you to earn travel rewards and offers comprehensive travel insurance. The Tangerine Card offers you the highest earnings in all three categories, but it really depends on which category you spend money in. If you spend the maximum of your expenditure in the three main categories on the card and think that your total expenditure is advantageous, then the 1% that the card costs can be refunded in cash if you are refunded your spending limit.

While the Tangerine Money-Back Card offers extended warranty extensions of up to one year and a purchase warranty, it offers travel, health insurance, or car rental. The annual fee for this credit card is low, and the annual minimum income requirement is $12,000, but it does not offer all the benefits it has in cashback. However, if you use a credit card to buy online, such as the SimplyCash American Express Card with a cashback rate of 12.5%, it beats the Tangerines Card, which earns 0.5% in other sales categories. 

Its bespoke cashback policy makes the Tangerine Money-Back credit card an excellent solution for putting together lucrative credit card combinations as you can select cashback categories to fill out areas where your other credit cards do not earn money back.

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